The property involved in the transaction is an office asset located at 250 West 57th Street in Manhattan. The transaction is under contract, with a sale price of $280,000,000. The total square footage of the property is approximately 540,000 square feet, resulting in a price per square foot of $519.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $280,000,000
• Address: 250 West 57th Street
• Market: Manhattan
• Square Footage: 540,000
• Price per Square Foot: $519
• Buyer: Igal Namdar - Namdar Realty Group
• Seller: Tony Malkin - Empire State Realty Trust
• Brokerage: Adam Spies, Joshua King (JoshAdamKing) & Marcella Fasulo (MMFasulo) - Newmark

Igal Namdar of Namdar Realty Group is acquiring the property from Tony Malkin of Empire State Realty Trust. This transaction represents one of Namdar's significant investments in the Manhattan office market, securing the asset for roughly $280 million, which is below the initial asking price of $350 million.